SVB TECH COMMUNITY
War with Hamas threatens funding recovery in Israel's vital tech industry
Israel, one of the world's most innovative high-tech economies, relies on the sector for 14% of its workforce and nearly a fifth of its overall economic output. It has weathered decades of turmoil and is ultimately expected to see investment return once the conflict ends and fundraising globally recovers, they added.
US banks rethink social media as a threat, not a marketing tool
In board rooms across the United States, executives are devising programs and plans to counteract online threats including rumors around the health of the banks that could lead to deposit outflows or weigh on the stock.
Tech demand hits a low as clients tighten purse strings amid economic uncertainties
India’s top four IT firms–Tata Consultancy Services (TCS), Infosys, HCLTech and Wipro–clocked double-digit revenue growth in FY23. Compared with last year, these companies have reduced their revenue growth outlook for FY24 by at least 50%.
EV scooter sales hit a bump in April, Ola grows marginally; What's plaguing Nykaa?
Electric two-wheeler sales took a beating in April, according to data from Vahan, a government database that tracks vehicle registrations, and compiled by Elara Capital.
Indian startup IPO plans get redrawn amid tech turbulence; SVB sold to First Citizens Bank
As the so-called funding winter continues, Indian startups like Oyo and Mamaearth are redrawing their Initial Public Offering (IPO) plan. This and more in today’s ETtech Top 5.
Troubled Silicon Valley Bank acquired by First Citizens
Customers of SVB will automatically become customers of First Citizens, which is headquartered in Raleigh, North Carolina. The 17 former branches of SVB will open as First Citizens branches Monday, the FDIC said.
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Black, Hispanic investors struggle with faith in crypto
Only a small minority of the US population owns cryptocurrency, but adoption increased during the COVID-19 pandemic as low interest rates made borrowing money and investing in risky assets more attractive.
TikTok’s future hangs in balance amid possible US ban & other top tech stories this week
Earlier this week TikTok said it has more than 150 million monthly users (nearly half the population) in the US, up from 100 million just a year ago. However, the exponential growth of the short video platform comes at a time when it faces an existential crisis in the US as the Joe Biden administration seeks a ban or a potential sale of the platform to a local owner.
Silicon Valley Bank collapse and how it impacted Indian startups: all the top stories
The SVB fall had a direct impact on Indian cross-border SaaS firms and YC portfolio startups due to their exposure to the bank.
Silicon Valley Bank collapse concerns founders of colour, minorities
Smaller players have fewer means of surviving a collapse, reflecting the perilous journey minority entrepreneurs face while attempting to navigate industries historically rife with racism
Mortgages, wine and renovations: Silicon Valley Bank's deep tech ties
And when SVB held an annual event in January on the state of the wine industry, it featured speakers from Wine.com, one of the world's largest online wine retailers and a company that Kleiner had once invested in.
Is the backlash over SVB collapse a threat to 'woke' investments?
The bank financed more than 1,500 clients in the climate and sustainability space and funded key sectors like women's health and affordable housing - all in line with established ESG goals.
SVB's climate tech clients face humbling funding questions
The meltdown of the 40-year-old lender triggered days of stressful phone calls for many types of technology firms as they lined up contingency plans for funds, although some calm returned after US authorities stepped in to insure their deposits.
Silicon Valley Bank's demise disrupts the disruptors in tech
the gratitude for the deposit guarantees that will allow thousands of tech startups to continue to pay their workers and other bills was mixed with moments of reflection among entrepreneurs and venture capital partners rattled by Silicon Valley Bank's downfall.
US admin's stance on Silicon Valley Bank reassuring for Indian startups who have funds there: Nasscom SVP
The US government's announcement that depositors of failed Silicon Valley Bank (SVB) will have access to their money, has given hope and will address the immediate financial issues that these startups were grappling with, according to Nasscom's Senior Vice President and chief strategy officer Sangeeta Gupta.
Investors, fintech companies help out cash-crunched startups
Look to ease working capital freeze with emergency services for small, mid-stage firms
Indian banks have a strong case to not bear the brunt of Silicon Valley Bank collapse
Large reliance of Indian banks on local deposits cushions them as global peers are facing potential contagion from the woes emanating from Silicon Valley Bank fallout, Macquarie Group told Bloomberg. Friday's dramatic failure of the SVB, which focuses on tech startups, was the biggest since the 2008 financial crisis. Moreover, state regulators closed New York-based Signature Bank on Sunday, making it the third largest failure in U.S. banking history.
SVB meltdown: US regulators to protect all depositors, EV makers questioned about mispricing products
Indian startups have been adversely affected by these developments, with a particular impact on those in the software-as-a-service (SaaS) industry.
SVB collapse: US regulators to protect all depositors
Banking regulators said on Sunday evening that depositors at Silicon Valley Bank (SVB), which was shuttered Friday, would have access to their funds on Monday, putting to rest fears that startups would struggle to pay their employees this week.
US marshalling 'material action' to stem SVB fallout: report
Details of the announcement expected on Sunday were not immediately available, but one of the sources said the Federal Reserve could take action similar to what it did to keep banks operating during the COVID-19 pandemic.
IT MoS to meet officials from SVB-hit startups this week
The SVB crisis has sent shockwaves across the global tech ecosystem and investor community as the bank — one of the key financial institutions supporting tech startups — collapsed in less than 72 hours.
Collapse of Silicon Valley Bank to impact Indian startup ecosystem, feel experts
Over the past several years, SVB has been one of the most preferred choices of banking for startups and tech industry in Silicon Valley, mainly because of its understanding of the industry and flexibility in many aspects suiting the startup ecosystem.
Silicon Valley Bank collapse: top developments so far
Silicon Valley Bank (SVB) — a prominent tech-focused bank managing funds of close to about 40% of US startups — was shut down by a California regulator triggering panic within the startup ecosystem.
3 Lessons from Silicon Valley Bank's failure
What brought Silicon Valley Bank down wasn't lending to risky startups, or gambling on sketchy crypto coins, or some other ill-considered tech scheme. It was an old-fashioned bank run, set off back in 2021 by a series of old-fashioned bad decisions.
Worry for tech startups after Silicon Valley Bank failure
The company previously boasted that "nearly half" of technology and life science companies that had US funding banked with them, leading many to worry about the possible ripple effects of its collapse.
SVB shutdown sends shockwaves through Silicon Valley as CEOs race to make payroll
On Friday, tech CEOs scrambled to make payroll after SVB Financial Group was shuttered by California banking regulators in a bid to protect depositors following a dive in the value of its investment holdings and a rush of withdrawal requests starting just two days ago.
Elon Musk says he is open to buying collapsed Silicon Valley Bank
US regulators on Friday shut down SVB and took control of its customer deposits in the largest failure of an American bank since 2008.
Top VCs in a huddle to discuss Silicon Valley Bank collapse, vow to be 'supportive'
Tweeting the statement, Hemant Taneja, CEO, General Catalyst, said: "Several VC leaders met today to discuss the aftermath of SVB's downfall. This is a joint statement from all of us."
US government shuts Silicon Valley Bank; Indian SaaS firms mull options to transfer deposits
As the Silicon Valley Bank (SVB) shut operations, venture capital funds checked in with homegrown startups, especially those headquartered in the US, about how much of their capital is held at SVB Financial Group.
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